In january 2017, domingo, inc., acquired 20 percent of the outstanding common stock of martes, inc., for $860,000. this investment gave domingo the ability to exercise significant influence over martes, whose balance sheet on that date showed total assets of $4,486,000 with liabilities of $976,000. any excess of cost over book value of the investment was attributed to a patent having a remaining useful life of 10 years. in 2017, martes reported net income of $182,000. in 2018, martes reported net income of $236,000. dividends of $116,000 were declared in each of these two years. what is the equity method balance of domingo’s investment in martes, inc., at december 31, 2018?
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In january 2017, domingo, inc., acquired 20 percent of the outstanding common stock of martes, inc.,...
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